Sarbanes-Oxley Management and Verification Process Change Implementation
One of the world’s leading providers of communications solutions and services operating in 170 countries. Its principal activities include networked IT services, local, national and international telecommunications services, and higher-value broadband and internet products and services.
Project Overview & Objectives
The client requested Synaptitude lead an effort within the Finance organization to document their existing business processes to ensure that proper controls were in place to pass both internal and external audits. Where deficiencies existed, the Synaptitude team would identify and implement system and or process solutions to correct the issues.
Synaptitude was asked by our client to manage compliance of business & system processes for Sarbanes Oxley. Through Synaptitude’s process improvement implementation management, over 70 business issues were identified and remediated. We used a structured process management approach to remediation, by obtaining resource allocation commitments from key stakeholders, across multiple business functions and locations. As non-compliant processes were identified, our managers tracked process updates, and performed verifications to ensure compliance. Finally, our consultants audited the outputs of the modified processes, to further validate process upgrades.
Results and Benefits
Our experience with data quality and management; enterprise planning and compliance; IT systems and controls Synaptitude was able to ensure that the correct processes and controls were in place for the client to satisfy both their internal and SarBox requirements. The changes implemented as a result of this process provided the client with insight to several deficiencies which have since been corrected and have led to direct benefits in excess of 50M GBP in the past year alone.